Sir James Dyson relocates his head office to SINGAPORE despite voting for Brexit and backing a no deal – but insists it is NOT because of leaving the EU
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Brexit-backing businessman Sir James Dyson is to relocate the Dyson head office from the UK to Singapore.
The bombshell announcement will mean Dyson is no longer a British registered company and Singapore will become its main tax base.
Billionaire Sir James was one of the loudest business supporters of Brexit at the 2016 referendum and when the talks stagnated in 2017 he urged Mrs May to ‘walk away’ and embrace leaving Europe.
Despite the firm’s insistence the relocation is not to do with Brexit, it is acutely embarrassing to Leave supporters.
And it comes amid mounting concern that a no deal Brexit could be disastrous for British manufacturing – particularly in the motor industry.
Remain supporters lashed Sir James, 71, for ‘staggering hypocrisy’ and warned it was ‘damning for the Government’.
Told by MailOnline the news about Dyson, one Brexiteer Cabinet minister grimaced and said simply: ‘Oh.’
It is the second blow Dyson has dealt to Brexit Britain after last year’s announcement that it will manufacturer its new electric cars in Singapore, rather than the UK.
In justifying the move, chief executive Jim Rowan dismissed the idea of Brexit and lower taxes being a motivation.
‘The move is nothing to do with Brexit or tax, it’s about making sure we are future proofed. There are huge revenue opportunities in Singapore, China is the poster child of that,’ he said.
‘The tax difference is negligible for us, we are taxed all over the world and we will continue to pay tax in the UK. We will continue to invest in the UK, in Malmesbury, in Bristol and London.’
Mr Rowan confirmed that Sir James was integral to the decision to ditch Britain.
